Wheeling inc. uses the aging of accounts receivable method. its estimate of uncollectible receivables resulting from the aging analysis equals $6,600. at the end of the year, the balance of accounts receivable is $116,000 and the unadjusted debit balance of the allowance for doubtful accounts is $820. credit sales during the year totaled $182,000. what is the estimated bad debt expense for the current year? a) $8,920.b) $5,780.c) $7,420.d) $6,600.

option (C) $7,420

Explanation:

Data provided in the question:

Estimate of uncollectible receivables = $6,600

Balance of Accounts Receivable = $116,000

unadjusted debit balance of the Allowance for Doubtful Accounts = $820

Credit sales during the year = $182,000

Now,

Bad debt Expenses is given as:

= Unadjusted debit balance for doubtful accounts + Uncollectible Receivable

= $820 + $6,600

= $7,420

Hence,

The correct answer is option (C) $7,420

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